The top is 7.98. This is an itermediate resistance area and shouldn't be considered a top.
"With volume declining this is a classic bearish signal."
Volume remains up on spikes down on pullbacks.That is a classic bullish volume flow. We opened today with a burst of accumulation and closed with another burst of buying.
This stock broke out on a huge surge of volume.There hasn't been a single down day with volume that rivals the up moves.
From bottom to top the stock found support at a Fib 50% retrace - 4.36 Dec 4th.That is a very typical retrace for a momentum stock.The key is the retrace occured on declining volume. Again - big volume push up - low volume retrace. That's a momentum stock getting ready for another breakout higher.